A work by Indian Modernist Tyeb Mehta has sold for three quarters of a million dollars at auction, failing to keep pace with recent sales of the late artist’s work that have broken the million dollar mark. Read More »

Yet another painting by the late Indian artist Tyeb Mehta has broken the $1-million dollar mark.

At Christie’s auction of South Asian Modern and Contemporary Art in New York on Wednesday, his 1984 oil painting “Untitled (Figures with Bull Head)” sold for over $1.7 million, in line with estimates. It sold to an anonymous buyer and was the auction’s top sale.

We’re getting used to Mehta’s paintings commanding some of the highest prices in the Indian art market. Sales of his works in auctions over the past year have helped draw global attention to the art scene in the subcontinent. Read More »

Update:Tyeb Mehta’s “Untitled (Kali)” sold for 57.3 million rupees ($1.3 million) at Saffronart’s summer art auction, roughly five times the auction’s estimate.

An untitled work by Tyeb Mehta, which shows a figure reclining on a rickshaw, sold for $3.24 million at Christie’s in London Thursday evening, setting a new auction record for the Indian artist.

This is the second-highest sum ever paid for an Indian painting at an international auction. Syed Haider Raza’s “Saurashtra” (1983), which sold for $3.5 million about a year ago, is the only work in this category that sold for more. Read More »

At a recent auction sculptor and artist Subhod Gupta’s works managed to get much more than the upper estimate of $350,000, one of his works finally selling for almost $550,000.

For those watching soaring local stocks nervously for signs of a fresh asset bubble ready to pop, Wednesday’s auction of Indian art at Christie’s might just be a bad sign.

Indian art prices have soared in recent months as Indians and others have bid more aggressively for art as the economy has powered ahead despite the setbacks to the global economic recovery. But those expecting a repeat of a June Christie’s auction may have been disappointed.

At the time, Syed Haider Raza’s “Saurashtra” set a new record in June, selling for almost $3.5 million. That was well beyond the pre-sales estimate of $1.9 million to $2.6 million. This time though, his “La Terre”, which had been expected to bring in between $2 million and $2.5 million, fell short of expectations, finally going for just about $1.9 million. Read More »

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